Mobistar Group optimizes its financing structure

22 december 2010 Brussels, 22 December 2010 - Mobistar has decided to conditionally waive a debt of 30 million euro owed by his subsidiary Orange S.A. in Luxembourg. Mobistar has also reversed certain provisions on the investment deduction for sustainable investments. The two decisions result in a decrease in tax costs and a 14 million euro improvement of the consolidated net result for 2010. The most recent guidance for the consolidated net result do not take this positive impact into account. Finally, Mobistar's Board of Directors has approved the re- financing of the long-term credit facility for an amount of 450 million euro. In order to optimise the balance sheet structure of his subsidiary Orange S.A. in Luxembourg, Mobistar has decided to conditionally waive the debt of 30 million euro owed by Orange S.A. This decision follows a positive opinion of the "Dienst Voorafgaande Beslissingen in fiscale zaken / Service des Décisions Anticipées en matière fiscale ". This debt waiver results in an extraordinary write-off for Mobistar S.A. and an extraordinary result for Orange S.A. (Luxembourg). Thanks to this rearrangement, Mobistar's subsidiary in Luxembourg strengthens its balance sheet structure and can move ahead with its growth strategy. Mobistar also reversed certain provisions on the investment deduction for sustainable investments, since it obtained the necessary tax certificates for the financial years 2007, 2008 and 2009. Both elements increase the consolidated net profit by 14 million euro for the financial year 2010 by lowering the consolidated tax cost. This positive impact was not taken into consideration in the consolidated net result guidance (between 225 and 245 million euro) as presented with the half-year results in July 2010. Mobistar's Board of Directors has also approved the re-financing of one of its credit facilities, with expiry date of 31/12/2010. The new credit facility, with expiry date of 31/12/2015, amounts to 450 million euro with an interest rate of EURIBOR + 65 Bps. The agreement strengthens the long-term financing of Mobistar's growth activities. Mobistar (EURONEXT BRUSSELS: MOBB), one of the main players on the Belgian and Luxembourg telecommunications market, is active in mobile and landline telecommunications, ADSL and other markets with high growth potential. The company develops innovative products and services for the residential and professional markets. Mobistar is quoted on the Brussels Stock Exchange and is part of the France Télécom group. For more information, please contact: Press service:  press@mail.mobistar.be - http://corporate.mobistar.be/press Patti Verdoodt +32 (0)495 55 96 26 Mathieu Van Overstraeten +32 (0)496 21 52 45 Investor relations - Christophe Lemaitre: +32 (0)2 745 72 26 - e- mail:ir@mail.mobistar.be Follow us on Twitter: PressMobistar  This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Mobistar via Thomson Reuters ONE [HUG#1475232]